Since crossing 50,000 on February 3, the index has risen nearly 10,000 points in a few days in less than eight months.
The S&P BSE Sensex on Friday crossed the 60,000 mark to close at 60048.47, up 163.11 points or 0.27% with buying support. Since crossing 50,000 on February 3, the index has risen nearly 10,000 points in a few days in less than eight months.
ICICI Securities Ltd CIO Piyush Garg said the market was performing well in the last few quarters on account of ‘heavy liquidity, upward earnings cycle, economic revival due to fading COVID-19 impact’.
“However, market participants should be wary of rising inflation and draining liquidity from the system. During [calendar year] 2021, some central banks like Russia, Korea, Ukraine have raised rates,” he said.
“Increasing inflation risk and therefore the withdrawal of ultra-easy monetary policy by global central banks (primarily the US Federal Reserve) could lead to a sharp rise in bond yields that could rapidly correct riskier assets,” he warned. .
“One can therefore keep a watchful eye on the increase in yields across the globe, which could result in a sharp drop of 10-15% from current levels,” he added.
The mood in the BSE intensified with the Sensex achieving new milestones. BSE officials and brokers gathered at the exchange to celebrate the occasion.
Ashish Kumar Chauhan, MD & CEO, BSE said that this is “an indicator of India’s growth potential, as well as the way India is emerging as a world leader during the COVID period, apart from monetary expansion across the globe and The fiscal policies adopted by the world have been relaxed. powers.”
“Indian markets are considered to be the best performing markets in the post-COVID period in the last 18 months because of the clever policies and implementation of the government, private sector and everyone involved. Many more investors are also joining the stock markets directly or indirectly.”
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